Chee Soon Juan said Trans-Pacific Partnership (TPP) is a mechanism to keep China in check. Is he out of touch? Does all trade pacts have to include China? If Trans-Pacific Partnership (TPP) is a mechanism to keep China in check, why Singapore is involved in the another trade agreement talks called the Regional Comprehensive Economic Partnership (RCEP) started by China?
Singapore also have other trade pacts with China. So what is this guy talking about?
Furthermore, Shinzo Abe said Trans-Pacific Partnership (TPP) is meaningless without USA but they are still leading the charge by ensuring Trans-Pacific Partnership (TPP) to take effect asap. Just like other TPP leaders not just PM Lee that are pushing to get Trans-Pacific Partnership (TPP) through without USA!
Mr Abe told a parliamentary committee last week that if the TPP did not go through, it would be a pivot towards the China-led RCEP.
Yesterday, Japanese Chief Cabinet Secretary Yoshihide Suga did not comment on Mr Trump’s promise to quit the TPP, but said Japan plans to take the lead in working to ensure the TPP takes effect as soon as possible, and would lobby other signatories to the pact.
New Zealand Prime Minister John Key reacted more bluntly. “The United States is not an island,” he said. “It can’t just sit there and say it’s not going to trade with the rest of the world.” Mr Trump made it clear he favoured bilateral pacts.
Leaders of Trans-Pacific Partnership (TPP) nations pledged to press on with the landmark trade deal that hangs in the balance after the United States presidential election.
Prime Minister Lee Hsien Loong told fellow TPP leaders at a meeting on Saturday (yesterday morning Singapore time) that Singapore will amend legislation to bring into effect the TPP by early next year.
“While the circumstances have changed, the fundamental rationale for the TPP has not changed. It remains important, both economically and strategically,” Mr Lee said.